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Economy of Hungary vs Trinidad and Tobago compared: GDP & Debt

Updated on by Georank team

Hungary has a GDP of $223B compared to $25.6B for Trinidad and Tobago, ranking 55/197 and 115/197 by economy size, respectively.

Hungary has $164B in government debt (73.5% of GDP), compared to $16.5B (64.2% of GDP) in Trinidad and Tobago.

Hungary vs Trinidad and Tobago GDP by year

Hungary
Trinidad and Tobago
1x
Year GDP, current $
Hungary Trinidad
2024 $222,722,738,926 $25,633,544,529
2023 $213,240,316,635 $25,036,993,423
2022 $177,002,580,544 $28,341,164,301
2021 $183,282,685,440 $24,222,963,263
2020 $158,468,487,754 $20,888,515,184
2019 $164,936,682,034 $23,477,745,792
2018 $161,184,691,014 $23,883,058,083
2017 $143,335,098,992 $23,830,750,901
2016 $128,983,560,865 $23,624,322,193
2015 $125,244,126,623 $26,841,141,793
2014 $141,128,696,412 $29,474,180,005
2013 $135,646,053,779 $28,560,537,057
2012 $128,470,269,690 $27,147,349,937
2011 $141,712,804,954 $25,433,007,437
2010 $131,898,737,241 $22,157,920,592
2009 $130,807,441,076 $19,172,165,226
2008 $158,228,265,916 $27,871,587,350
2007 $140,123,326,896 $21,641,620,050
2006 $115,604,111,412 $18,369,361,094
2005 $113,098,237,571 $15,982,389,018
2004 $104,015,363,080 $13,280,291,990
2003 $85,190,469,121 $11,305,459,802
2002 $67,636,468,625 $9,008,298,229
2001 $53,800,068,066 $8,824,849,191
2000 $47,275,954,429 $8,154,342,116
1999 $49,160,204,397 $6,808,982,521
1998 $48,784,412,624 $6,043,686,654
1997 $47,398,564,799 $5,737,771,523
1996 $46,833,767,124 $5,759,570,336
1995 $46,577,614,589 $5,329,217,747
1994 $43,307,949,890 $4,947,181,646
1993 $40,256,233,360 $4,669,491,134
1992 $38,857,339,125 $5,439,552,941
1991 $34,867,307,353 $5,307,905,882
1990 $34,478,360,679 $5,068,000,000
1989 $30,422,508,938 $4,323,058,824
1988 $29,799,838,597 $4,496,910,569
1987 $27,232,016,527 $4,797,777,778
1986 $24,778,163,812 $4,794,444,444
1985 $21,510,643,750 $7,375,918,367
1984 $21,242,726,264 $7,757,083,333
1983 $21,910,365,258 $7,763,750,000
1982 $24,141,667,188 $8,140,416,667
1981 $23,705,883,892 $6,992,083,333
1980 $23,116,977,148 $6,235,833,333
1979 $19,959,731,325 $4,602,416,625
1978 $17,286,744,154 $3,562,333,458
1977 $14,783,674,055 $3,138,666,667
1976 $13,235,612,079 $2,500,424,955
1975 $11,420,392,515 $2,442,669,825
1974 $10,016,338,179 $2,042,001,071
1973 $9,138,292,402 $1,308,785,431
1972 $7,379,313,742 $1,083,391,758
1971 $6,291,568,221 $896,765,215
1970 $5,780,929,203 $821,850,000
1969 $5,429,812,387 $779,200,000
1968 $4,886,222,555 $758,899,950
1967 - $761,981,912
1966 - $723,739,857
1965 - $736,573,159
1964 - $711,897,520
1963 - $678,239,329
1962 - $619,322,810
1961 - $584,964,621
1960 - $535,673,252

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/hungary/trinidad-and-tobago | CC BY

GDP per capita in Hungary vs Trinidad and Tobago by year

Hungary
GDP per capita

GDP per capita, PPP
Trinidad and Tobago
GDP per capita

GDP per capita, PPP
1x
Year Current $
Hungary Trinidad
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $23,292 $48,552 $18,733 $36,329
2023 $22,231 $46,592 $18,308 $34,623
2022 $18,428 $44,366 $20,751 $32,979
2021 $19,031 $38,887 $17,713 $30,482
2020 $16,387 $35,584 $15,284 $26,731
2019 $17,013 $35,627 $17,213 $29,316
2018 $16,605 $32,258 $17,571 $28,673
2017 $14,736 $29,728 $17,566 $28,484
2016 $13,216 $28,179 $17,449 $28,232
2015 $12,783 $26,938 $19,887 $29,825
2014 $14,353 $25,796 $21,908 $32,027
2013 $13,739 $24,592 $21,305 $31,746
2012 $12,950 $23,205 $20,332 $31,883
2011 $14,211 $22,992 $19,151 $31,078
2010 $13,190 $21,691 $16,815 $30,778
2009 $13,051 $20,691 $14,634 $29,602
2008 $15,763 $20,709 $21,299 $30,807
2007 $13,935 $19,089 $16,607 $29,355
2006 $11,478 $18,362 $14,153 $27,393
2005 $11,212 $17,091 $12,346 $23,536
2004 $10,291 $16,251 $9,871 $20,674
2003 $8,410 $15,460 $8,445 $18,743
2002 $6,658 $14,532 $6,763 $16,141
2001 $5,281 $13,223 $6,657 $14,797
2000 $4,630 $11,872 $6,179 $13,953
1999 $4,802 $10,892 $5,179 $12,812
1998 $4,752 $10,415 $4,613 $11,735
1997 $4,606 $9,846 $4,394 $10,769
1996 $4,542 $9,388 $4,427 $9,883
1995 $4,509 $9,222 $4,115 $9,099
1994 $4,187 $8,888 $3,840 $8,631
1993 $3,887 $8,441 $3,647 $8,209
1992 $3,747 $8,284 $4,277 $8,129
1991 $3,361 $8,352 $4,205 $7,274
1990 $3,324 $9,169 $4,047 $6,878
1989 $2,902 - $3,482 -
1988 $2,812 - $3,656 -
1987 $2,566 - $3,941 -
1986 $2,331 - $3,985 -
1985 $2,020 - $6,212 -
1984 $1,991 - $6,613 -
1983 $2,050 - $6,690 -
1982 $2,255 - $7,091 -
1981 $2,213 - $6,160 -
1980 $2,158 - $5,559 -
1979 $1,865 - $4,155 -
1978 $1,618 - $3,258 -
1977 $1,388 - $2,907 -
1976 $1,249 - $2,345 -
1975 $1,083 - $2,319 -
1974 $956 - $1,962 -
1973 $876 - $1,273 -
1972 $710 - $1,067 -
1971 $607 - $894 -
1970 $559 - $829 -
1969 $527 - $795 -
1968 $476 - $783 -
1967 - - $797 -
1966 - - $768 -
1965 - - $793 -
1964 - - $780 -
1963 - - $756 -
1962 - - $704 -
1961 - - $678 -
1960 - - $634 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/hungary/trinidad-and-tobago | CC BY

Hungary's GDP per capita is $23,292, ranking 55/197, compared to $18,733 in Trinidad and Tobago, ranking 61/197. Adjusted for purchasing power (GDP per capita PPP), Hungary ranks 48th at $48,552, while Trinidad and Tobago ranks 62nd at $36,329.

Economic indicators

Hungary Trinidad
Gross domestic product
$223B
2024
$25.6B
2024
GDP rank
55/197
2024
115/197
2024
GDP growth
0.56%
2023-2024
2.51%
2023-2024
GDP per capita
$23,292
2024
$18,733
2024
GDP per capita rank
55/197
2024
61/197
2024
GDP per capita, PPP
$48,552
2024
$36,329
2024
GDP per capita PPP rank
48/197
2024
62/197
2024
Government debt
$164B
2024
$16.5B
2024
Debt-to-GDP ratio
73.5%
2024
64.2%
2024
Government debt per person
$17,109
2024
$12,028
2024
Government debt per person rank
37/185
2024
45/185
2024
Average annual personal income after taxes
$16,996
2026
$11,007
2026
Market capitalization of domestic companies
$41.5B
2024
$3.89B
2001
Number of millionaires
24,692
2025
n/a
Number of billionaires
4
2025
n/a
Income share by richest 10%
24.4%
2022
29.9%
1992
Income share by poorest 10%
2.8%
2022
2.1%
1992
Government expenditure, % of GDP
46.9%
2024
32.3%
2024
Consumer prices inflation
3.7%
2023-2024
0.53%
2023-2024
Central bank interest rate
6.5%
2024
3.5%
2020
Unemployment rate
4.47%
2024
4.01%
2024
Population
9475525
1374840

Spending and national debt comparison by year

Hungary
Spending

Debt
Trinidad and Tobago
Spending

Debt
1x
Year % of GDP
Hungary Trinidad
Government spending Government debt Government spending Government debt
2024 46.9% 73.5% 32.3% 64.2%
2023 49.2% 73% 33.5% 62.2%
2022 48.7% 73.9% 27.2% 51.3%
2021 48.1% 76.2% 30.3% 58.4%
2020 51% 78.7% 36.2% 62.5%
2019 45.8% 65% 31.2% 46.2%
2018 45.9% 68.8% 30.2% 41.5%
2017 46.6% 72% 30.7% 39.8%
2016 46.7% 74.6% 31.9% 35.4%
2015 50.4% 75.7% 35% 27.1%
2014 50% 76.5% 32.8% 23.5%
2013 50.1% 77.2% 31.3% 21.6%
2012 49.2% 78.4% 29.5% 21.8%
2011 49.1% 80.5% 29.4% 26.4%
2010 48.9% 80.2% 30.4% 16.8%
2009 50.7% 78.2% 37% 20.7%
2008 48.8% 71.8% 26.7% 13.5%
2007 49.9% 65.6% 25.7% 16.2%
2006 51.4% 64.5% 31.6% 16.9%
2005 49.4% 60.6% 26.7% 19.8%
2004 48.8% 58.9% 22.5% 24.2%
2003 49.2% 58.2% 22.2% 30.2%
2002 51% 55.6% 24.4% 37%
2001 47.2% 52.2% 24.8% 36.6%
2000 47.3% 55.6% 23.1% 38.9%
1999 48.9% 60.3% 24.1% 42.2%
1998 50.7% 60.4% 26.9% 42.8%
1997 49.5% 62.2% 27.2% 46.1%
1996 50.9% 71.2% 27.6% 47%
1995 55% 83.9% 26.2% 50.1%
1994 - 86.2% 25.4% 52.6%
1993 - 87.2% 26.9% 58.8%
1992 - 76.5% 28.6% 49.2%
1991 - 74.2% 29.6% 49.5%
1990 - 63.7% 26.9% 47.7%
1989 - 70.7% 30.9% 51.9%
1988 - - 45.3% 65.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1988–1994, retrieved 2026-02-20).

GeoRank.org/economy/hungary/trinidad-and-tobago | CC BY

In 2024, Hungary's government spending was $104B, accounting for 46.9% of its GDP, while Trinidad and Tobago spent $8.28B, or 32.3% of GDP.

Debt-to-GDP ratio is 73.5% in Hungary and 64.2% in Trinidad and Tobago, ranking 49/185 and 70/185, respectively.

Government deficit by year

Deficit/surplus
Hungary

Trinidad and Tobago
1x
Year Deficit/surplus, % of GDP
Hungary Trinidad
2024 -4.92% -5.24%
2023 -6.75% -1.24%
2022 -6.17% 0.92%
2021 -7.11% -8.1%
2020 -7.49% -12.2%
2019 -2.02% -3.74%
2018 -2.05% -5.89%
2017 -2.45% -10.4%
2016 -1.79% -10.1%
2015 -2% -7.56%
2014 -2.77% -4.31%
2013 -2.6% -2.67%
2012 -2.33% -1.26%
2011 -5.22% -0.67%
2010 -4.44% 0.13%
2009 -4.76% -5.42%
2008 -3.78% 5.39%
2007 -5.09% 3.12%
2006 -9.27% 1.56%
2005 -7.79% 2.36%
2004 -6.6% 1.84%
2003 -7.19% 1.8%
2002 -8.79% -0.2%
2001 -4% 0.61%
2000 -3.04% 0.17%
1999 -5.27% -0.88%
1998 -7.41% -1.8%
1997 -5.54% 0.11%
1996 -4.36% -0.45%
1995 -8.57% 0.17%
1994 - -0.02%
1993 - 0.23%
1992 - -2.74%
1991 - -0.21%
1990 - -1.27%
1989 - -4.46%
1988 - -9.34%
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -
1980 - -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 -0.17% -
1942 0.31% -
1941 0.2% -
1940 -0.07% -
1939 0.19% -
1938 -0.11% -
1937 -0.01% -
1936 0.08% -
1935 0.03% -
1934 0.04% -
1933 -0.03% -
1932 -0.22% -
1931 -0.32% -
1930 -0.26% -
1929 0.02% -
1928 0.12% -
1927 0.15% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1927–1989, retrieved 2026-02-20).

GeoRank.org/economy/hungary/trinidad-and-tobago | CC BY

In 2024, Hungary's government deficit, the difference between spending and revenue, was $10.9B, equivalent to 4.92% of GDP. This compares to Trinidad and Tobago's deficit of $1.34B, or 5.24% of GDP.

Over the past 30 years, Hungary recorded a fiscal deficit in 30 of those years, while Trinidad and Tobago ran a deficit in 18 years. On average, Hungary posted an annual deficit equal to 5.05% of GDP, compared to deficit of 2.13% of GDP for Trinidad and Tobago.

Inflation comparison by year

Inflation
Hungary

Trinidad and Tobago
1x
Year Consumer prices inflation
Hungary Trinidad
2024 3.7% 0.53%
2023 17.1% 4.63%
2022 14.6% 5.83%
2021 5.11% 2.06%
2020 3.33% 0.6%
2019 3.34% 1%
2018 2.85% 1.02%
2017 2.35% 1.88%
2016 0.39% 3.07%
2015 -0.06% 4.66%
2014 -0.23% 5.68%
2013 1.73% 5.2%
2012 5.65% 9.26%
2011 3.93% 5.11%
2010 4.86% 10.5%
2009 4.21% 6.98%
2008 6.04% 12%
2007 7.96% 7.89%
2006 3.93% 8.33%
2005 3.56% 6.87%
2004 6.74% 3.72%
2003 4.66% 3.81%
2002 5.27% 4.15%
2001 9.12% 5.54%
2000 9.8% 3.56%
1999 10% 3.44%
1998 14.2% 5.61%
1997 18.3% 3.63%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/hungary/trinidad-and-tobago | CC BY

Over the past 28 years, Hungary has recorded an average annual inflation rate of 6.16%, compared with 4.88% in Trinidad and Tobago. In 2024, inflation was 3.7% in Hungary and 0.53% in Trinidad and Tobago.

Top exports between countries

Hungary
Export category Export value
Machinery & equipment $4.3M
Chemicals & pharma $3.08M
Raw materials & minerals $388K
Raw agricultural goods $175K
Textiles & consumer goods $126K
Miscellaneous $64K
Metals $42K
Processed food, beverages & tobacco $36K
Wood & paper products $3K
Precious metals & jewellery $1K
Trinidad
Export category Export value
Miscellaneous $13K

Balance of trade

Hungary Trinidad
Current account balance
$3.52B
2024
$645M
2024
Current account balance ranking
36/190
2024
58/190
2024
Current account balance, % of GDP
+1.58%
2024
+2.52%
2024
Goods imports
$130B
2024
$7.54B
2024
Goods exports
$129B
2024
$10B
2024
Service imports
$27.9B
2024
$2.71B
2024
Service exports
$38.9B
2024
$1.26B
2024
Imports of goods and services, % of GDP
71.1%
2024
n/a
Exports of goods and services, % of GDP
75.4%
2024
45%
2025

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Hungary Trinidad
Economic freedom 62.5 62.4
Economic freedom ranking 86/197 87/197
Property rights 67.3 47.3
Government integrity 44 45.5
Judicial effectiveness 61.9 58.8
Tax burden 85.1 76.1
Government spending 30.2 71.1
Fiscal health 32.7 86.3
Business freedom 70.8 67.1
Labor freedom 56.5 57.2
Monetary freedom 72.1 81
Trade freedom 79.4 68.8
Investment freedom 80 50
Financial freedom 70 40

Economic freedom comparison by year

Hungary
Trinidad and Tobago
1x
Year Economic freedom index
Hungary Trinidad
2026 62.5 62.4
2025 61.4 63.6
2024 61.2 60.4
2023 64.1 59.5
2022 66.9 58.8
2021 67.2 59
2020 66.4 58.3
2019 65 57
2018 66.7 57.7
2017 65.8 61.2
2016 66 62.9
2015 66.8 64.1
2014 67 62.7
2013 67.3 62.3
2012 67.1 64.4
2011 66.6 66.5
2010 66.1 65.7
2009 66.8 68
2008 67.6 69.5
2007 64.8 70.6
2006 65 70.4
2005 63.5 71.5
2004 62.7 71.3
2003 63 68.8
2002 64.5 70.1
2001 65.6 71.8
2000 64.4 74.5
1999 59.6 72.4
1998 56.9 72
1997 55.3 71.3
1996 56.8 69.2
1995 55.2 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/hungary/trinidad-and-tobago | CC BY

The Economic Freedom Index for Hungary is 62.5, ranking 86/197, compared to 62.4 for Trinidad and Tobago, ranking 87/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Hungary Trinidad
Services, % of GDP
59.5%
2024
59.2%
2024
Industry, % of GDP
23.7%
2024
34.6%
2024
Agriculture, forestry, and fishing, % of GDP
2.71%
2024
0.78%
2024
GNI, Atlas method
$199B
2024
$27B
2024
GNI per capita, PPP
$47,290
2024
$36,580
2024
Total reserves including gold
$46.4B
2024
$5.6B
2024
Total reserves ranking
42/177
2024
94/177
2024
Net foreign direct investment
-$15.8B
2024
$980M
2024
Net inflows of foreign direct investment
-$62.2B
2024
-$453M
2024
Net outflows of foreign direct investment
-$78B
2024
$527M
2024
Poverty at national poverty lines
12.1%
2021
20%
2020
Gross capital formation, % of GDP
23.5%
2024
19%
2023

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/hungary/trinidad-and-tobago | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1927–1994, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2021–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.